Azzad Asset Management Inc. ADV Has $576,000 Stock Position in TE Connectivity Ltd. $TEL

Key Points

• Azzad Asset Management cut its TE Connectivity stake by 84% in the first quarter, selling 14,430 shares and leaving it with 2,756 shares worth about $576,000.
• TE Connectivity reported better-than-expected quarterly results, with EPS of $2.73 versus $2.70 expected and revenue of $4.74 billion, up 14.4% year over year.
• The company also declared a quarterly dividend of $0.78 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $259.92.

Azzad Asset Management Inc. ADV lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 84.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,756 shares of the electronics maker's stock after selling 14,430 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in TE Connectivity were worth $576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in TE Connectivity by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 38,421,283 shares of the electronics maker's stock valued at $8,741,226,000 after purchasing an additional 168,142 shares during the last quarter. State Street Corp raised its position in shares of TE Connectivity by 0.6% in the fourth quarter. State Street Corp now owns 13,105,219 shares of the electronics maker's stock valued at $2,981,572,000 after purchasing an additional 76,292 shares during the period. Geode Capital Management LLC lifted its stake in shares of TE Connectivity by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 6,284,933 shares of the electronics maker's stock worth $1,425,669,000 after buying an additional 161,967 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of TE Connectivity by 27.5% during the 2nd quarter. Bank of America Corp DE now owns 6,274,917 shares of the electronics maker's stock worth $1,058,390,000 after buying an additional 1,352,152 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in TE Connectivity by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,403,794 shares of the electronics maker's stock valued at $1,001,907,000 after buying an additional 144,353 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 9,400 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $215.00, for a total transaction of $2,021,000.00. Following the sale, the insider owned 25,976 shares in the company, valued at approximately $5,584,840. This trade represents a 26.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

TE Connectivity Price Performance

NYSE:TEL traded up $0.89 during trading hours on Friday, reaching $199.80. 1,929,190 shares of the company were exchanged, compared to its average volume of 2,141,272. The business has a 50 day moving average of $206.75 and a 200 day moving average of $217.05. TE Connectivity Ltd. has a 1-year low of $173.54 and a 1-year high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.89 and a quick ratio of 1.20. The company has a market capitalization of $58.32 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.41 and a beta of 1.17.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The electronics maker reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.03. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.72 billion. TE Connectivity had a return on equity of 23.56% and a net margin of 15.54%.The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 EPS. TE Connectivity has set its Q3 2026 guidance at 2.830-2.830 EPS. Research analysts forecast that TE Connectivity Ltd. will post 11.31 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a $0.78 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.12 annualized dividend and a dividend yield of 1.6%. TE Connectivity's payout ratio is presently 31.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TEL. HSBC downgraded shares of TE Connectivity from a "buy" rating to a "hold" rating and set a $234.00 price objective for the company. in a research report on Thursday, April 23rd. Barclays increased their target price on TE Connectivity from $297.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, June 15th. Evercore reissued an "in-line" rating and set a $230.00 price target on shares of TE Connectivity in a report on Monday, June 22nd. Wall Street Zen cut TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings raised TE Connectivity from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $259.92.

TE Connectivity Profile

TE Connectivity NYSE: TEL is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.

The company's products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.

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